Industry: IT and Telecommunication
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP2592
In 2023, the global mobile application market is anticipated to reach a valuation of US$ 191,751.6 Mn. It is expected to reach US$ 1,115,329.7 Mn by the end of 2033. Over the course of the forecast period (2023-2033), the mobile application market is estimated to grow at a prolific CAGR of 17.4%.
Mobile applications are a type of software application that is mainly designed and invented to run on smartphones, tablets, and computers. Mobile applications are developed to help consumers to connect through internet services by allowing them to gain access to their portable devices.
Mobile applications are considered to be hassle-free, as compared to conventional desktop applications which are designed and developed to run on desktops. Web applications, which run on web browsers are also set to decline in terms of usage with the emergence of advanced mobile applications worldwide.
In the next ten years, mobile applications are expected to be integrated into cloud computing solutions to make every task smoother than before. Increasing demand for wearables like smart watches is also anticipated to propel the need for innovative mobile applications that would enable users to connect their wearables with smartphones and tablets.
Moreover, various software developers are set to use motion sensors, gyroscopes, and accelerometers for creating new mobile applications to provide an enhanced experience of augmented reality (AR) and virtual reality (VR). Increasing focus of consumers on maintaining their health and wellness is also expected to push sales of health oriented mobile applications.
Several companies are also utilizing the internet of things (IoT) to develop mobile applications. In emerging economies, entry of a large number of start-up mobile application developers is anticipated to push growth in the market.
Further, increasing demand for high-quality mobile games among the millennials and generation Z is expected to bolster sales. In various schools and colleges, teachers are also set to be provided with unique educational applications that can be used on smartphones and tablets for assigning homework and teaching students online. Renowned clothing brands are nowadays coming up with their own official mobile applications to maintain zero-contact transactions and hassle-free shopping.
However, there are certain factors that may hinder sales of mobile applications in the evaluation period. These applications require an update for smooth functioning, which can result in high cost spending. Some of the apps also need in-app purchases in order to function, which may decline sales. Lack of high-speed internet in emerging countries is another factor that can hinder the use of mobile applications.
PMR states that in terms of region, North America is expected to generate a considerable share of nearly 31.3% in the global market by the end of 2023. Demand for mobile applications in Europe, on the other hand, is expected to grow at a steady pace and the region is projected to account for a share of 19.5% by the end of 2022.
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Mobile Application Market Size (2023) |
US$ 191,751.6 Mn |
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Projected Market Value (2033) |
US$ 1,115,329.7 Mn |
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Global Market Growth Rate (2023-2033) |
17.4% |
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Google Play Segment Market Share (2022) |
42.7% |
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U.S. Market Share (2022) |
21.2% |
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Social Networking Segment Market Share (2022) |
16.2% |
“Launch of Innovative Smartphone Apps by Start-ups and Government Agencies to Boost Demand”
Aspiring mobile application service providers are expected to mainly focus on problems associated with the current mobile market. It is set to create lucrative business scope for these companies. Several small-scale companies have already started emerging as leaders in the mobile application market.
With the growing popularity of Wear OS and other smartwatches, the market is expected to grow at a rapid pace during the mentioned time frame. Increasing use of virtual reality and augmented reality in smartphones is also projected to bode well for the global market.
To make tasks easy for users, various companies, including government agencies are nowadays launching unique mobile applications. For instance, in August 2022, the Food Safety and Standards Authority of India (FSSAI) launched a mobile application to help food business operators improve their connection with consumers.
Why is the Demand for Various Mobile Applications Market Surging in the U.S.?
“Presence of Well-established Mobile Computing Platform Developers to Fuel Growth in the U.S.”
The U.S. is considered to be the most lucrative market for mobile applications in North America. The country is expected to maintain this dominant position throughout the forecast period. Demand for mobile applications in the country is estimated to skyrocket in the next ten years with the presence of various well-established software development companies.
These companies are set to create novel apps integrated with artificial intelligence to enhance performance and complete tasks smoothly. PMR mentions that the U.S. mobile application market is projected to account for a dominant share of 21.2% by the end of 2022.
How are Mobile Application Developers Set to Fare in Japan?
“Increasing Number of Mobile Gamers in Japan to Drive the Need for Mobile Phone Apps”
Increasing penetration of the internet is one of the vital factors that is set to push the need for advanced mobile applications across Japan. The country is expected to emerge as a highly lucrative market owing to the early acceptance of the next generation information system.
Rising popularity of mobile gaming is further anticipated to fuel growth in Japan. In a survey, it was found that once users approve the value of a mobile application, they will have an urge to unlock its extended functionalities, which would increase profits for developers across Japan.
Why are Germany and the U.K. Considered to be Lucrative Hubs for Mobile Application Providers?
“High Demand for Paid Mobile Games to Augment the Need for Online App Development Solutions”
Easy availability of advanced mobile application services and growing adoption of smartphones in Germany and the U.K. are projected to drive sales over the next ten years. As per PMR, Germany is expected to witness steady growth at a CAGR of 13.1% from 2023 to 2033.
Robust in-app consumer spending and high number of smartphone application downloads are set to contribute to growth in Germany. The U.K., on the other hand, is expected to rise as a hugely profitable market for mobile applications amid a rapidly increasing mobile app user base, in-app billing, and high demand for paid mobile games.
Which is the Highly Preferred Store Type Worldwide?
“Users to Download Mobile Applications Market Software by Using Google Play Store”
Based on store type, the global market is segmented into Google Play Store and Apple App Store. Out of these, the Google Play Store segment is expected to generate the lion’s share of approximately 42.7% by 2022 in the global mobile application market. Google Play Store serves as a trusted platform for legit app developers and provides them with the opportunity to earn. It takes around 30% of in-app and app purchases, while the rest 70% of the payment goes to the developers.
Which is the Leading App Category across the Globe?
“Mobile App Developers to Focus on the Development of Unique Social Networking Apps”
Based on app category, the social networking segment is expected to generate a share of 16.2% in 2022 in the global mobile application market. Social networking mobile apps enable brands to have an increased reach amongst the target audience. These are considered to be very interactive and thus have an increased chance of being downloaded and utilized.
Major mobile application companies are collaborating and partnering up with local organizations to provide more efficient solutions. A few other key players are focusing on expanding their existing product portfolios by introducing unique mobile applications.
For instance,
Recent developments related to key players providing Mobile Application solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Attribute |
Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Store Type:
By App Category:
By Region:
To know more about delivery timeline for this report Contact Sales
In 2023, the market for mobile applications is set to reach a valuation of US$ 191,751.6 Mn.
The global market for mobile applications is estimated to advance at a phenomenal 17.4% CAGR through 2023 to 2033.
The market for mobile applications is expected to climb to US$ 1,115,329.7 Mn by the end of 2033.
Demand for mobile applications in China is projected to rise at a considerable CAGR of 18.5% over the next ten years.
In 2022, North America is expected to hold a dominant share of 31.3% in the market for mobile applications.
